Mumbai, Nov. 6 -- The domestic equity benchmarks traded with major gains in the mid-afternoon trade. The Nifty traded above the 24,800 level. Pharma shares extended gain for the fourth consecutive trading session.

At 14:30 IST, the S&P BSE Sensex jumped 1,168.97 points or 1.47% to 80,478.98. The Nifty 50 index rose 291.85 points or 1.19% to 24,829.65.

In the broader market, the Nifty MidCap 150 Index declined 0.59% and the Nifty SmallCap 250 Index fell 1.20%.

The market breadth was weak. On the NSE, 1,569 shares rose and 2,717 shares fell. A total of 233 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 10.44% to 17.21.

Buzzing Index:

The Nifty Pharma index rose 1....